Russian President's Legal Dept OKs “Free Port of Vladivostok” concept

The State Legal Department of the President of the Russian Federation has approved the concept of the law on the status of Free Port of Vladivostok, the Primorsky Territory Gov's press office said.

The Minister of the Far East development Alexander Galushka commented: "It is a very important event... The funDamental concept of the law has been supported by SLD of Russian President. The Dept. believes, the law should be adopted in the form in which it is now. There are just a few comments that are not conceptual. It is normal for the legislative process, and we will take it into account and work out all the details. Russian President Vladimir Putin also drew attention Primorye Gov Vladimir Miklushevsky emphasized that such a high quality document was created because it took into account the views of all interested parties. The bill turned out to be remarkably flexible and easily administrable, the official said.

"Maybe its further enforcement will help reveal some discrepancies, but we will be able to deal with and make changes to the law...,” Miklushevsky said.

In December 2014 Russian President Vladimir Putin in his annual Address to the Federal Assembly offered to provide a Free Port of Vladivostok easy customs regime.

As the presidential envoy to Russia's Far East Federal District Yuri Trutnev said the Free Port of Vladivostok will be excluded from the customs territory of the country to create there a separate customs regime. The official believes it should make the port more competitive and convenient for trade.

Gov Vladimir Miklushevsky said the Vladivostok open port status is required for the development of the entire Primorsky Territory.